Market Signal Briefing

TOPSHOT - Nvidia CEO Jensen Huang delivers a keynote address at the Consumer Electronics Show (CES) in Las Vegas, Nevada on January 6, 2025. Gadgets, robots and vehicles imbued with artificial intelligence will once again vie for attention at the Consumer Electronics Show, as vendors behind the scenes will seek ways to deal with tariffs threatened by US President-elect Donald Trump. The annual Consumer Electronics Show (CES) opens formally in Las Vegas on January 7, 2025, but preceding days are packed with product announcements. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)

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The run that AI poster child NVIDIA (NVDA) has been on these last few years is truly incredible. That’s not news, of course. But what matters now is whether investors are overpaying for that growth—in both NVIDIA and AI as a whole.

NVIDIA’s Monstrous RunOnce a chipmaker known for appealing mainly to gamers, NVIDIA started to climb in 2023, thanks to a new technology only a few people really understood at the time: generative AI.

Then, as AI spread in 2024, hopes—and NVIDIA’s stock—soared. That was followed by more fears of a bubble in AI. As with NVIDIA’s share price, a chart is the best way to do these worries justice:

AI Bubble Fears

Google

There’s so much discussion of an AI bubble now that we seem to be in a bubble of talking about bubbles! That’s why some advisors are saying that this AI bubble talk is a distraction. I’d agree, as we can’t even be sure this is a bubble—and I’d argue it’s not.

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To see why I’m saying this, we need to look no further than NVIDIA shares. Consider this table of their performance in the last four years.

NVDA Yearly Returns

CEF Insider

Here I’ve broken out NVDA’s per-year returns since 2022, a year in which the stock plunged alongside all of tech. Note how its biggest year was in 2023, and that its gains have been moderating since?

If this were really a bubble, you’d expect yearly gains to keep building and building until they hit a wall. That’s not the case here. In fact, I’d argue that we’re seeing a massively undervalued company becoming a fairly valued one.

To really unpack this, let’s look at how much investors are paying for NVIDIA’s earnings. We’ll do that by looking at the stock’s price-to-earnings (P/E) ratio (in purple below). As you can see, it roughly matches that of “boring” big-box retailer Costco (COST)!

NVDA P/E Ratio

Ycharts

I think you’ll agree that Costco, with its membership-driven revenue, is a pretty reliable revenue generator. This shows that investors are starting to see NVIDIA the same way.

Note also that NVIDIA’s P/E ratio trailed that of Costco for most of 2025.

In other words, this is not a bubbly valuation. And in fact, none of the “Magnificent 7” stocks sport higher valuations than Costco right now. That is, except for Tesla (TSLA), which in many ways lives in its own little world.

To be sure, some aspects of the AI space do look bubbly, like the 700 seed-stage rounds that attracted $10 million or more in 2025. This shows that venture capitalists are indeed making some outrageous bets here.

But that’s not a sign of a bubble. In fact, I heard the same worries about VC overinvestment in the early 2010s (if you don’t remember Juicero, it was a great example of VC silliness), when I worked on Wall Street. The market powered higher anyway.

But what about all the infrastructure investments we hear about, especially around data centers? One report says we saw about a 30% growth rate in data-center spending in the middle of 2025, to about $40 billion on an annualized basis, and the Fed estimates about $41.2 billion. But both sources also cite rapid growth in building back in 2023 and 2024, so the 2025 rate actually moderated compared to 2024.

If we look at total private construction of non-residential properties, as provided by the Census Bureau, a similar story appears.

Data Center Construction

Census Bureau

Here we can see spending growth on data-center construction (gray line) far outpacing all nonresidential spending (orange line) and overall private-sector spending (blue) in late 2023 and 2024. That was actually the case in the late 2010s, as well.

In fact, data-center spending looks like it’s simply going back to where it was pre-pandemic. It’s also worth noting that the growth rate has been slowing since peaking in late 2023, much like NVIDIA’s stock-price growth has been moderating since then, too. In other words, this is clearly not a bubble—if anything, the bubbly numbers looked most alarming in late 2023.

How I’m Playing the AI “Non-Bubble” So what’s the best approach for us here?

For one, the data says this market is not acting irrationally. On the contrary, valuations suggest a mature market, and our best play is to remain fully invested and diversified.

Most people would go with an index fund like the SPDR S&P 500 ETF (SPY) in a situation like this. But we want dividends, and SPY’s sad 1% yield just won’t cut it.

In this market, while we wait for AI to continue its spread through the US economy, getting a big slice of our return in cash dividends is key. That’s why we prefer a closed-end fund (CEF) like the Adams Diversified Equity Fund (ADX), a long-time holding of my CEF Insider service.

ADX is a proven long-term wealth generator, both in the form of dividends and capital gains. Since we bought the 7.9%-yielding fund in July 2017, it’s returned 243% in gains and dividends, as of this writing, soundly beating the S&P 500.

ADX Total Returns

Ycharts

That’s thanks to management’s stock-picking skills (ADX holds NVIDIA, along with many other top S&P 500 stocks). Their acumen stems from ADX’s long institutional memory: The fund traces its roots back to 1854—yes, the mid-nineteenth century.

And then there’s that income stream, responsible for a big slice of the fund’s total return: ADX’s 7.9% yield is roughly seven times that of the typical S&P 500 stock (note that ADX’s payouts do flex somewhat, based on its portfolio performance).

The odd thing about CEFs like ADX is that when investors judge their performance, they tend to only look at price returns, not total returns (including dividends), as we discussed last week. And on a price basis, ADX returned 15.5% in 2025, just less than the 16.4% of an S&P 500 index fund. But add reinvested dividends and you’ll see that ADX (in purple below) easily beat the market.

ADX Outperforms

Ycharts

CEFs like ADX are nicely set to keep outrunning a rising stock market. Anyone who’s letting bubble fears keep them out of the market (and this great fund) are missing out—on both the income and the capital gains side.

Michael Foster is the Lead Research Analyst for Contrarian Outlook. For more great retirement income ideas, click here for our latest report “Indestructible Income: 5 Bargain Funds with Steady 9.1% Dividends.”

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Eli Lilly (NYSE: LLY) and Johnson & Johnson (NYSE: JNJ) both delivered strong third-quarter results, but their earnings revealed two fundamentally different healthcare businesses. Lilly rode explosive GLP-1 drug demand to 53.9% revenue growth. Johnson & Johnson leaned on diversification across medical devices, pharmaceuticals, and consumer health to post 6.8% growth.

GLP-1 Momentum Versus Diversified Stability Lilly’s quarter centered on its diabetes and obesity franchise. Revenue hit $17.6 billion, driven by Mounjaro and Zepbound demand that management described as supply-constrained rather than demand-constrained. Net income of $5.6 billion jumped 480% year over year, as operating margin expanded to 48.3%. Gross margin reached 82.9%, reflecting the pricing power and manufacturing efficiency of blockbuster biologics.

Johnson & Johnson’s $24.0 billion in revenue came from a broader base. Medical device sales benefited from elective procedure volume recovery. Pharmaceutical revenue grew on newer immunology and oncology drugs, though legacy products faced biosimilar pressure. The 69.6% gross margin and 30.2% operating margin reflect a more complex cost structure spanning manufacturing, distribution, and regulatory compliance across multiple product categories. Net income of $5.2 billion rose 91% year over year, driven partly by one-time gains visible in its Q1 2025 blowout of $4.54 EPS against $2.26 expected.

Metric Lilly Johnson & Johnson Revenue Growth 53.9% YoY 6.8% YoY Operating Margin 48.3% 30.2% Net Income Growth 480% YoY 91% YoY R&D Spending $4.1B $3.7B One Franchise Versus Portfolio Breadth Lilly’s strategy concentrates risk and reward in a single therapeutic area. GLP-1 drugs now define the company’s valuation and growth trajectory. Management invested $4.1 billion in R&D during the quarter, much directed toward expanding manufacturing capacity and developing next-generation obesity treatments. The forward P/E of 33.78 reflects confidence that demand will sustain through patent cliffs and competitive entries.

Johnson & Johnson spreads exposure across devices, pharmaceuticals, and international markets. The company spent $3.7 billion on R&D allocated across oncology, immunology, cardiovascular devices, and surgical robotics. This diversification limits upside but cushions against single-product risk. The forward P/E of 18.05 and 2.45% dividend yield position J&J as a defensive holding rather than a growth bet.

Oral Competition and Manufacturing Scale The next inflection point for Lilly involves oral GLP-1 competition. Novo Nordisk’s oral Wegovy approval in December 2025 triggered sustained Reddit discussion, with one thread generating 168 upvotes and comments noting the shift from injections to pills could reshape patient preferences. Lilly must prove its injectable franchise can hold share as oral alternatives scale.

Johnson & Johnson faces different tests. Device segment growth depends on hospital capital spending, which remains uneven. Pharmaceutical revenue needs newer drugs to offset biosimilar erosion on older biologics.

Why I Lean Toward Lilly Despite the Premium I would choose Lilly for exposure to a transformational drug category that still has room to run. The 480% earnings growth and 48.3% operating margin suggest the GLP-1 franchise is hitting scale efficiently. The P/E of 53.22 looks steep, but the PEG ratio of 1.01 indicates growth justifies the multiple. Oral competition is real, but Lilly’s manufacturing lead and pipeline depth give it time to adapt.

Johnson & Johnson fits a different investor. If you prioritize income and stability over growth, the 2.45% yield and diversified revenue base make sense. The stock gained 44.84% over the past year, but long-term returns lag dramatically. Lilly delivered 587.71% over five years versus J&J’s 51.34%.

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Top Solana DEX Platforms - Detailed Reviews

Below is our coverage of the top Solana DEX platforms, using the metrics we shared earlier. Out of a list of over 15 Solana DEX platforms, we selected the top 7 using the CoinGape review methodology, which focuses on what matters over hype. Here’s a review of the projects on our list

1. Orca: User-Friendly DEX on Solana Best for: Spot traders, liquidity providers, and beginners on Solana

4.4

Orca gets many things right, especially being a good option for new traders on Solana. The interface is good; it doesn’t feel clumsy or difficult to get around. Orca also offers low fees and a good spot trading experience. Overall, Orca is one of the best Solana DEX options if you’re planning on trading SPL tokens.

Author Review:

From my experience, Orca is a good Solana DEX for both spot traders, beginners, and liquidity providers. I have used Orca for quick swaps and LP positions. The execution felt smooth with very little slippage for liquid pairs. 

Key Parameters Details Fee structure 0.01%- 2%  Unique active wallets 282 Liquidity depth and slippage Strong for major pools, moderate on smaller SPLs Supported markets Spot/SPL token swaps Security audits  Cure53 and others Wallet and mobile support All Solana wallets are supported.
Mobile support: Yes Perpetual support  No Integration with aggregators  Yes Pros

CONS

The concentrated liquidity model allows LPs to concentrate funds in certain price ranges and earn more from fees. Offers deep liquidity pools for earning trading fees Has one of the most user-friendly interfaces among Solana DEXs. Lacks native aggregation features and does not support perps The risk of divergence loss for LPs increases with concentrated liquidity.

2. Raydium CLMM: One of the Biggest Solana DEXs Best for: Active spot traders, on-chain liquidity, liquidity providers

4.6

Raydium CLMM perfectly combines deep liquidity with advanced AMM and CLMM pools, making it one of Solana’s biggest DEXs in both volume and active wallets. Raydium CLMM excels most in offering low-slippage trades in major SPL pairs. 

Author’s Review:

Radium CLMM is where I go when I truly need execution over anything else. The fees feel fair, large trades settle smoothly, and the pools genuinely reduce slippage, which is what matters for active spot traders and liquidity providers.

Key Parameters Details Fee structure Tiered 0.01% to 2% swap fees Unique active wallets 226.11k Liquidity depth and slippage Strong on major Solana pairs.
CLMM design allows a tight spread and low slippage Supported markets Spot trading, SPL token swaps, concentrated liquidity pools Security audits  HashEX, Ottersec Wallet and mobile support Phantom, Solflare, and other Solana wallets
Available via mobile browsers Perpetual support  No Integration with aggregators  Yes Pros

CONS

Concentrated liquidity guarantees better efficiency than most AMM platforms Offers eight fee tiers from 0.01% to 2%, with LPs earning 84% of the fees Faces the possibility of amplified impermanent loss Focuses on spot trading with no perpetual support

3. Meteora: Advanced Liquidity DEX on Solana Best for: Yield-focused DeFi traders, stablecoin traders, and liquidity providers

4.2

Meteora is a high-performance DEX on Solana that focuses largely on smart liquidity deployment. It offers dynamic pools that are designed to maximize capital efficiency. Overall, Meteora is one of the top decentralized exchanges for Solana LPs.

Author’s Review:

In my opinion, Meteora best appeals to anyone already familiar with DeF. I don’t use it for casual crypto swaps. Instead, I rely on it for liquidity strategies. I recommend Meteoroa if you’re optimizing yields rather than just trading. 

Key Parameters Details Fee structure 0.01% – 2% Unique active wallets 235.16k Liquidity depth and slippage Strong depth for stablecoins
Slippage is low for large trades within supported pools Supported markets Spot swaps, SPL tokens, dynamic liquidity pools Security audits  Halborn, Offside Labs Wallet and mobile support Phantom, Solflare, Backpack, Ledger. Usable on mobile via wallet browsers. Perpetual support  No Integration with aggregators  Yes Pros

CONS

Offers dynamic rebalancing and built-in SPOT, BID/ASK, which reduces manual management. Increases LP earnings through additional yields from vaults Offers advanced trading options No governance or staking incentives, unlike Ray

4. Raydium Best for: High-volume spot traders

4.4

Raydium is one of the biggest DEXs on Solana, famous for offering deep liquidity and low slippage. Raydium combines AMM and CLMM pools. Overall, it’s a deep liquidity layer for Solana. Author’s Review:

Raydium is a good option if your goal is serious on-chain trading. It executes large trades with ease, and the CLMM pools truly offer better pricing. I recommend Raydium for traders who care more about execution over flashy UI. 

Key Parameters Details Fee structure Tiered structure 0.01% – 1% Unique active wallets 226.11k Liquidity depth and slippage Deep liquidity on SOL and stablecoins Supported markets Spot trading, SPL token swaps, standard AMM pools Security audits  HashEx, Madshield  Wallet and mobile support Supports major Solana wallets Fully available on mobile via in-wallet browsers

Perpetual support  No Integration with aggregators  Yes Pros

CONS

Deep liquidity pools and low slippage on major pairs Advanced CLMM pools suited for active LP strategies Deeply integrated with the Solana ecosystem Not beginner-friendly compared to most DEXs Does not cater to derivative traders with no perpetual support

5. Pumpswap: Best Solana DEX for Memecoins Best for: Memecoin traders

4

Pumpswap is a Solana DEX that was built specifically for tokens moving from the Pump fun platform. It supports instant secondary trading without migration difficulties. Overall, Pumpsqwap is one of the most specialized platforms in our Solana DEX list.

Author’s Review:

Pumpswap feels more purpose-built than a general platform. If your goal is to trade early memecoins, then Pumpswap is the best Solana DEX for that. However, you must know that it could feel limiting if you have other plans, like perpetual trading.

Key Parameters Details Fee structure 0.3% ( Trading fee) Unique active wallets Not available  Liquidity depth and slippage Strong liquidity depth Low-slippage on memecoins

Supported markets Memecoins Security audits  Audit Labs  Wallet and mobile support Compatible with Solana wallets  Perpetual support  No Integration with aggregators  Limited Pros

CONS

Currently one of the leading memecoin DEXs on Solana. Offers a low entry barrier, appealing to new users Lacks a diverse market focus Highly vulnerable to volatile markets

6. Byreal: Emerging Liquidity DEX on Solana Best for: Early liquidity providers, experimental traders

3.9

Byreal is a new DEX on Solana that focuses on flexible pool-based liquidity design. Backed by Bybit, Byreal is most known for offering gasless, low-slippage trades via RFQs and CLMM.

Author’s Review:

Byreal is easily one of the easiest Solana DEXs I have used for large trades. Sub-200ms quotes felt like trading on a top CEX like Bybit, without KYC. But the ease was similar. I recommend Byreal for yield chases and early liquidity providers. 

Key Parameters Details Fee structure Dynamic pool-based Unique active wallets Not available  Liquidity depth and slippage Strong for large trades via RFQs market makers Supported markets SPL token pools, spot swaps Security audits  Not public  Wallet and mobile support Phantom, Solflare, and other major Solana wallets Perpetual support  No Integration with aggregators  Yes Pros

CONS

Executes large trades easily with minimal MEV risks Bybit backing offers strong liquidity support Still an early stage with fewer users than Raydium Spot-only trading limits advanced strategies

7. Pancakeswap V3: Multi-Chain DEX Expanding on Solana Best for: Active spot traders

4.2

Pancakeswap V3 brings its proven concentrated liquidity model to Solana. The focus on this Solana DEX is on fee flexibility and capital efficiency. Overall, Pancakeswap offers deep liquidity and an interface that’s easy for beginners to use.

Author’s review:

If you’ve Pancakeswap on any chain, V3 on Solana feels like home but turbocharged. Trades are fast, and the fee is solid. It’s not the biggest DEX on Solana yet. But its cross-chain reputation adds trust.

Key Parameters Details Fee structure 0.01% – 1% Unique active wallets Not available  Liquidity depth and slippage Good depth on major pairs, slippage remains low on moderate-sized trades Supported markets Spt trading, SPL token swaps  Security audits  SlowMist, Peckshield Wallet and mobile support Solana wallets and other popular options  Mobile: Via Pancakeswap extension

Perpetual support  No Integration with aggregators  Yes Pros

CONS

Offers ultra-low fees at 0.01%, lower than most Solana competitors Offers flexible fee tiers to accommodate multiple strategies Solana liquidity still trails compared to Pancakeswap BNB and other chains

How We Reviewed the Best DEXs on the Solana Chain?

To identify the best Solana DEXs, we combined quantitative metrics and hands-on testing. Each factor carries a weight to show its importance for users.

Metric Description  Weightage  Security and Audits Are the smart contracts safe? Is there a history of hacks?   20% Liquidity and Slippage  Can you carry out large trades without heavy price changes?  18% Supported Assets and Markets  Does the DEX offer flexibility in asset and broad market access?  12% Fees and Funding Rates How expensive is trading on the DEX? Platforms like Orca have good fee rates.  12% Oracle Reliability Accurate prices matter. Check if the DEXs use Chainlink or Pyth. 10% Network Performance and Gas Fees Transactions should be fast and cheap. Solana’s design helps here 8% User Experience  Is the DEX easy to navigate for a newbie? Here, you look at the supported wallets and integration  8% Regulatory Accessibility  Can users safely access the DEX from their region?  5% Technical Evaluation  How solid is the backend? RPC quality, routing, crash history, etc 7% By scoring these DEXs along these metrics, we can confidently evaluate platforms that are safe to use in 2026.

What Fees Should You Expect on Solana DEXs in 2026?

Trading on Solana is still cheaper than trading on Ethereum and other chains. But it’s still important to talk about fees because what you pay is often determined by network activity and sometimes protocol charges. Understanding these things helps you prepare. Here are the fees to expect on Solana DEXs in 2026.

Network Fees – This is a constant and really cheap compared to what’s out there. Solana’s gas fees are usually a fraction of a cent and apply to both swaps, liquidity provision, and even withdrawals.  Protocol Fees – Solana DEX has its individual protocol fees, which are often around 0.01% to 2% for extremely volatile pools. CLMM pools or specialized pools may charge more.  The fees often go to liquidity providers and the protocol. In some cases, some is allocated to buybacks. If you’re looking for really good fees, Orca and Pancakeswap are good places to search. 

How to Reduce Fees on Solana DEXs? As someone who has traded on Solana DEXs for a while, there are some good ways to reduce how much you pay on trades and keep more of your profits. A smart tip for that is to use aggregators like Jupiter. 

These platforms help you find the best price and lowest slippage. It’s like a cheat code. You can target high-liquidity pools and moderate trade sizes. Overall, use a combination of smart routing and timing trades during low network congestion. That’s a good way to reduce your fees.

How Secure Are Solana DEXs?

Solana may have the advantage of being a low-cost chain, but is it the safest? Not exactly. There are still some risks and safety concerns you must be aware of before trading on a decentralized Solana exchange. 

Smart Contract Risk and Audit Status  Always check if the DEX has third-party audits and bug bounty programs. Even the biggest Solana DEX platforms are not completely risk-free. That’s why audit matters. An audit doesn’t make a platform completely safe, but it shows the code has been reviewed and tested at that time. 

Bridge Risks are Another Thing to Watch Closely  When it comes to DEX trading, cross-chain bridges are where the real problem lies. We saw this in 2022 with the Ronin hack and other times across the DeFi space. Bridges are prone to attacks, especially when they move funds from one network to another. 

The best way to stay safe is to only use platforms that have been audited. For added security, avoid using new bridges, especially if they haven’t been audited. That‘s one way to lose your funds if things go south. 

Watch Out for Rug Pulls and LP Pool Vulnerabilities  Rug pulls are common in crypto, especially among new projects. The best way to stay safe is to be careful when dealing with new projects and avoid any project without proper documentation or a public team. That’s a recipe for a rug pull. Although not always, the most common rug pulls in crypto have followed that pattern. 

Wallet Best Practices  In DEX trading, your first job is to stay safe. Since DEXs’ trading is non-custodial, you have to be your own guard. Start by making sure you use strong passwords, or go for hardware wallets for extra safety. Seed phrases can get lost easily, or you forget a word or two. The best safety tip here is to back it up. 

How to Spot a Scam Token on Solana? Scams in crypto are common, but the truth is that they are also predictable. The easiest things to watch out for in detecting scams on Solana are unverified tokens, funny tokenomics, or even unknown creators. With the memecoin craze in Solana, there are a lot of scams and

Conclusion - Which is the Best Solana DEX for You?

Choosing a DEX can be challenging, with numerous good options available. The rule of thumb in choosing is to always ask, “What do I need?” Once you can answer that question, you’ve solved the puzzle. 

Your trading style, the type of token you prefer (memecoins, stables, etc), all decide what your needs are, and not all Solana DEX can cater to these needs the same way. Some, like Pumpswap, are best for memecoins. 

Think of it like this: 

Beginners should use Orca  Large liquidity traders should use Raydium Solana perpetual DEX trader should use Drift Protocol Traders looking for the best stablecoin swap platforms should consider Meteora or Pancakeswap V3. Never sacrifice security for hype. Always use a platform with a good reputation. 

Overall, the best depends on you. Consider your risk appetite, token type, and volume, then choose one of the best Solana DEXs that suits your needs.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A Solana (SOL) whale has stirred the market’s attention after it woke from 365 days of dormancy to make a bullish bet on the altcoin. As tracked by an on-chain platform on X, Lookonchain, the long inactive wallet has withdrawn 80,000 SOL from the Binance exchange into a private wallet.

Exchange withdrawal suggests long-term SOL accumulation strategyThe fiat value of the moved assets is approximately $10.87 million at the current market rate. Many in the Solana community are excited about this move as it signals a possible rally might soon be at play. The community members are keen on tracking the whale’s next move.

Notably, for such a large holder, moving that volume of Solana from Binance could suggest that they are active again after one year. The withdrawal also signals that the whale does not intend to sell anytime soon but wants to hold SOL in the long term.

If the Solana whale plans to sell, they would have left their asset on the exchange for quick disposal when the market price is right. However, it is the movement to a private wallet amid market volatility that has triggered bullish anticipation in the ecosystem.

A user stated that the Solana whale wallet "woke up with purpose."

Others are keen on understanding the whale, their motive and whether it is an old miner behind the wallet or a bold player placing a huge bet on Solana’s future price outlook.

Solana struggles below key support despite whale activitySolana has shed $5, dropping from a daily trading peak of $140.42 to a low of $135.05 as volatility continues in the market. As of this writing, Solana was trading at $136.39, representing a 1.33% decline over the last 24 hours.

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The coin’s trading volume is also struggling and down by 24.42% to $3.76 billion. This is largely due to the failure of Solana’s price to hold above the critical $137 support. As soon as the coin breached this support, it triggered sell pressure.

On the positive side, U.Today reported that Solana might record expanded growth in 2026, given it is the second biggest ecosystem in terms of developer activity. The blockchain is anticipating the Alpenglow upgrade in the first half of the year. This is expected to reduce transaction time to within 100-150 milliseconds, making it faster than the Google search engine.

Investors have always favored the Solana blockchain due to its transaction throughput, and the upgrade could further drive adoption and impact the price positively.

The Solana blockchain has released an urgent update, v3.0.14, for its validators. According to Solana Status, the patch should be applied to all its Mainnet-Beta validators. The release applies to all validators, including staked and unstaked validators running test nodes. 

The recent patch follows a series of patches in the previous months on Solana’s v3 validator client series, which aim to improve the network’s long-term performance, resilience, and stability. The latest patch includes a series of developments that will be activated. The recent launch of the SKR token underscores the need for a more robust and stable network to support the growing activity across the network. 

Solana’s Alpenglow and Firedancer upgrades shape the network’s growth Solana blockchain released a critical patch for its v3 validator client series, addressing a potential threat similar to those seen in previous emergency releases. The update did not include a changelog; nevertheless, these patches are typically installed before users can detect any issues. 

URGENT RELEASE: The v3.0.14 release is now recommended for general use by Mainnet-Beta validators.

This release contains a critical set of patches and should be applied to staked and unstaked Mainnet-Beta validators.

— Solana Status (@SolanaStatus) January 10, 2026

The Solana network released Alpenglow and Firedancer upgrades last year, aiming to address congestion issues, validator centralization, and state bloat. The network introduced new opportunities for DeFi, NFT, and tokenized RWAs. 

The Solana blockchain released the Alpenglow upgrade in September 2025, replacing its Proof of History and TowerBFT consensus mechanisms with Votor and Rotor. According to Solana’s report, the new mechanisms deliver 150ms block finality and support multiple concurrent leaders for parallel execution. The upgrade is planned for mainnet deployment this year.

The Firedancer upgrade, which introduced a C++-based validator client from Jump Crypto running alongside the Agave client, was released in Q1 2025. The integration uses modular tiles for parallel processing, targeting 1 million TPS. The Agave 3.0.6 release, recommended for general use by Mainnet Beta validators, was released in October of last year. 

Solana blockchain development services were simplified with Firedancer’s API support for high-throughput dApp development. The high TPS achieved supported memecoin surges without congestion and enabled fast transactions in the Phantom wallet, making it ideal for DeFi and NFT trading. 

ZK Compression reduces storage costs, enabling cost-effective launches The Solana development team released a ZK Compression v2 tool that uses zero-knowledge proofs to compress state data. The tool achieved 70-1,000x compression tested in Q3 2025. The tool stores data on-chain and off-chain, reducing storage costs while maintaining composability. 

Other fixes developed in 2025 included doubling blockspace, congestion fixes, inflation reduction, and economic upgrades. The network reduced inflation from 8% to 1.5% in Q4 2025, and vote fees were eliminated, saving validators roughly 80% MEV tools. Lastly, confidential transfers and privacy were enabled in June 2025, enhancing transactions for Solana DeFi protocols and RWAs. 

SOL’s value was boosted by reducing inflation, increasing TPS, and institutional adoption. The network received approval for roughly six ETFs in October, driven by the Alpenglow institutional upgrade finality.

Memecoins now enjoy low fees and high throughput while creators benefit from ZK Compression’s cost-effective launches. The upgrades boosted DEX volumes to approximately $111 billion in December and over $1 billion for the entire year 2025. 

According to data from SoSoValue, the network has raised roughly $816 million in institutional capital through SOL ETFs launched in October. So far, Solana’s total locked value is $8.8 billion according to DefiLlama data, with 24-hour revenue of $1.08 million across the chain. The network’s daily active addresses now exceed 75 million, reflecting the significant growth achieved to date. 

SOL’s price peaked at roughly $240 in September with an average 24-hour volume of $7.5 billion. At the time of publication, SOL was trading at $136, down 29% over the past year and 1.6% on the daily chart.

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Shiba Inu faces mounting sell pressure as 82 trillion SHIB tokens accumulate on exchanges.

Newton Gitonga2 min read

10 January 2026, 11:55 AM

Shiba Inu holders appear to be positioning for potential exits. On-chain data reveals a notable accumulation of SHIB tokens on cryptocurrency exchanges, raising concerns about near-term price action.

Exchange reserves now hold approximately 82 trillion SHIB tokens, according to CryptoQuant analytics. This represents an increase from 81 trillion tokens at the beginning of 2026. While the change seems modest, the timing coincides with SHIB's retreat from recent highs above $0.000009.

Source: CryptoQuant

At the time of writing, SHIB trades at around $0.00000864, down 0.53% in the last 24 hours.

SHIB’s price action over the past 24 hours (Source: CoinCodex)

The pattern suggests some investors capitalized on the rally to liquidate positions. Exchange deposits typically indicate selling intent, as holders transfer tokens from private wallets to trading platforms. The correlation between rising reserves and price weakness reinforces this interpretation.

Net Flows Signal Shift in Market DynamicsExchange net flow data paints a clearer picture of current sentiment. Recent figures show positive net flows, meaning deposits are outpacing withdrawals. This imbalance suggests that selling pressure is building across the SHIB market.

The shift occurred near SHIB's yearly peak, suggesting profit-taking drove the behavior. Broader market conditions have compounded the pressure. Bitcoin's pullback from $94,000 toward $90,000 has dampened risk appetite throughout the cryptocurrency sector. SHIB has not escaped this cooling effect.

Derivatives markets reflect the changing momentum. Trading volume in SHIB futures and options has declined by just over 5 percent, settling near $203 million. Open interest has fallen more sharply, dropping over 7 percent to approximately $108 million.

These metrics indicate reduced speculative activity. Traders are pulling back from leveraged positions, which often signals uncertainty about short-term direction. However, the long-to-short ratio remains above 1.0, showing that bullish positions still outnumber bearish ones among derivatives traders.

Whale Movements and Network Activity Provide CounterpointsNot all indicators point toward weakness. Large-scale transactions have surged recently, offering a different perspective on institutional interest.

Santiment data shows a 111 percent spike in SHIB transactions exceeding $100,000 in value. This places Shiba Inu among a select group of tokens with market capitalizations above $500 million experiencing heightened whale activity. Such movements suggest major holders remain engaged with the asset.

Whale behavior can signal accumulation or repositioning rather than outright exits. The increase in large transactions occurred despite the broader selling pressure, indicating some sophisticated investors see value at current levels.

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Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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Bitcoin has dropped back to a 12-year rising support line, a level traders often treat as a cycle reset zone. At the same time, CoinCodex data shows price stabilizing near the mid-$80,000s after a volatile 2025 range.

Bitcoin Tests 12-Year Trendline Support as Long-Term Structure HoldsBitcoin has moved back to its long-running trendline support, a level that has guided price action for more than a decade, according to a chart shared by market analyst Vivek Sen. The weekly Bitcoin U.S. dollar chart shows price pulling down toward the rising support line that stretches from early 2013 through 2026, marking another test of a structure that has historically defined major cycle lows and resets.

The chart places Bitcoin near the mid-to-high $80,000 range as it interacts with the diagonal support. This trendline has acted as a floor during prior market drawdowns, including corrections in 2015, 2019, and 2022. Each previous interaction coincided with periods of consolidation before renewed upside momentum emerged over subsequent quarters.

From a structural perspective, the trendline represents a long-term growth trajectory rather than a short-term trading signal. Price action shows higher highs and higher lows across multiple cycles, while pullbacks have remained contained above the rising support. The current move reflects a cooling phase after Bitcoin’s recent highs, rather than a clear breakdown in the broader market structure.

Analysts note that the significance of the 12-year trendline lies in its consistency across market regimes. Unlike horizontal levels that lose relevance over time, the diagonal support adjusts with Bitcoin’s expanding market capitalization and adoption. As a result, reactions around this level often attract attention from long-term participants rather than short-term traders.

While historical comparisons show that previous touches of the trendline preceded strong rallies, market participants caution that past performance does not dictate future outcomes. Macroeconomic conditions, liquidity trends, and regulatory developments now play a larger role than in earlier cycles. Still, the ability of Bitcoin to hold this long-term support keeps the broader bullish structure intact, even as volatility remains elevated in the near term.

CoinCodex Data Shows Bitcoin Stabilizing After 2025 PullbackBitcoin’s recent price action reflects a broad consolidation phase rather than a decisive trend shift, according to historical and projected data from CoinCodex. The chart shows Bitcoin trading through a volatile 2025, with price ranging roughly between $75,000 and $120,000 before sliding into the low-to-mid $80,000 area toward the end of the year.

Bitcoin Price History and Projection. Source: CoinCodex

Earlier in the year, Bitcoin rebounded strongly from a spring dip near $80,000 and climbed steadily into the summer. That move peaked above $115,000, marking one of the highest levels of the cycle. However, momentum faded in the fourth quarter, and price rolled over into November, triggering a sharper decline that reset short-term positioning.

By January 2026, Bitcoin appears to have found a base, with price stabilizing near prior consolidation zones. CoinCodex’s forward projection, shown as a dotted extension on the chart, suggests a gradual recovery rather than an aggressive breakout. The forecast implies higher lows over the coming months, with price oscillating upward but remaining below previous cycle peaks in the near term.

Structurally, the data points to a market that has absorbed heavy volatility without losing its broader range. The projected path does not assume a straight-line rally. Instead, it reflects continued two-sided trading as macro conditions and liquidity trends influence risk appetite. The absence of sharp downside projections also indicates that major support levels remain intact.

Taken together, the CoinCodex chart frames Bitcoin’s current phase as a transition period. After a year marked by wide swings, price action has compressed, and expectations have shifted toward slower, more measured movement rather than rapid expansion.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Pi Network price continues to trade in a compressed range, while Pi Coin price remains anchored near a well-defined demand zone. This trend is typical of long term balance between buyers and sellers and not directional conviction. 

Meanwhile, network developments relating to the initial 2026 upgrade add a possible game changer that can tip this balance. The critical analytical concern is now whether the process of enhancing utility can be consistent with the price structure to redress the range.

2026 Upgrade Reshapes Pi Network Price Dynamics  Pi Network price reflects restrained participation, yet Pi Coin price sits at a structural inflection shaped by the first major 2026 upgrade. The upgrade increases speed of payment and integration of developers, which promotes transactional relevance throughout the ecosystem. With the growth of real use, utility-based demand starts to develop around price and this sustains the existence of participation as opposed to short-term speculation.

This change is important since the price structure is more responsive to continuous transaction flows than bursts based on sentiment. Transactional activity can take up circulating supply along with demand as developers create rails on faster payment. The latter process lessens the sell-through pressure and ensures the price continues to rotate rather than disintegrate.

This rotation in its turn promotes a defense of structure by the buyers instead of pursuing upside before it is achieved. Although utility does not directly compel short-term expansion, it increases the bid behind the scenes. When the adoption proceeds to accumulate, the price conditions will become even more accepting to a directional movement as soon as the resistance interaction commences.

Range Compression Signals Rebound Bias For Pi Pi Network price remains confined within a defined range, while Pi Coin price forms an Adam and Eve structure near demand. This pattern indicates aggressive selling fatigue and subsequent rounding, stabilizing price action and decreases downside momentum. With the reduction in the selling pressure, the buyers become more in control of the short-term structure.

At press time, Pi Network market value sits around $0.2085, below the resistance of $0.2154. This positioning is constructive since price stability goes hand in hand with MACD staying above its signal line, which suggests that upward momentum is accumulating in the range, and not after a breakout. The creation of momentum is gradual and this maintains structure.

In the meantime, the growing green MACD histograms indicate a growing participation by buyers, favoring the establishment of higher lows. Provided that this momentum persists, price conditions would become more and more favorable to a reclaim of $0.2154. 

A successful reclaim would likely direct price toward the $0.2733 supply zone, while sustained buyer strength there could extend the move toward $0.3630, shaping the long-term Pi Coin price outlook.

PI/USD Daily Chart (Source: TradingView) Summary  Pi Network price shows growing structural readiness rather than immediate expansion, while Pi Coin price continues to consolidate above demand. Momentum conditions imply that buyers are not responding late but they are positioning before the resistance interaction. 

So long as accumulation continues, the overall effect will be a reestablishment of the same position at $0.2154 that would bring control to the higher supply areas. Until then, range compression defines price behavior, with upside bias gradually strengthening.

Frequently Asked Questions (FAQs) The upgrade focuses on faster payment processing, simplified developer integration, and broader real-world application support.

Improved utility encourages transactional usage, which strengthens ecosystem participation and long-term network relevance.

Easier integration lowers entry barriers, enabling more applications to adopt Pi payments and expand ecosystem use cases.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Bitcoin price hovered around $90,596 on Saturday, January 10, 2026, maintaining a tight range between $89,822 and $91,839. 

Although the wider crypto market fell 0.55% over 24 hours. Ethereum was trading above $3000, and XRP was above $2.00. Solana and Dogecoin, other assets, had further price consolidation.

US Strategic Crypto Reserve Fuels Digital Gold Narrative Market sentiment is shifting as attention turns to reports that the U.S. government now treats Bitcoin as part of a strategic reserve. 

Recently disclosed by Hedge fund manager Scott Bessent, Bitcoin confiscated will cease to be sold. Rather, they will be preserved as a U.S. Strategic Bitcoin Reserve asset.

The change of policy is an indication that Bitcoin is being considered as an asset class at the state level, and this supports its digitization of gold. Bessent emphasized that this action does not entail the purchase of bitcoin, but only the possession of the already acquired holdings.

The implication is apparent should the U.S. continue to hold Bitcoin as an important strategic asset; other countries might also do the same to level the geopolitical grounds.

🚨 THE US OFFICIALLY HOLDS BITCOIN AS A STRATEGIC RESERVE

Scott Bessent stated that seized $BTC will no longer be sold but held as a state reserve

This means Bitcoin is now recognized as a national-level asset

And when the US holds, other nations will be forced to follow or… pic.twitter.com/BrP9aDEncV

— Linton Worm (🍏,🪱) (@LintonWorm) January 8, 2026

Moreover, state lawmakers are resurrecting legislation that indicates this tendency. One of the Florida bills that is associated with Bitcoin reserves is to be reintroduced into law by the 2026 legislative session.

The increasing congruency of the U.S. federal action with state proposals is contributing to the establishment of Bitcoin as a safe haven in the policy arena, despite no active buying.

Cathie Wood indicated that President Trump will start to purchase Bitcoin to create a U.S. Bitcoin strategic reserve.

With the Bitcoin price staying above the critical positioning, the strategic reserve conversation may offer a favorable long-term positioning background.

Bitcoin Price Holds $90K: Is a Breakout Toward $95K Next? The latest BTC price traded at $90,665 after rebounding from the $88,000 support level during

The Bitcoin price plummeted to $88,000 and was soon in demand, and recovered. The buyers succeeded to recover the levels of $90,000 and beyond, although the attempts to go upwards have been halted at around $91,000.

The 4-hour MACD has indicators of improvement. The MACD line is increasing and is nearing the point of bullish crossover with the signal line.

In case of the crossover and the bars on the histogram become positive, there may be another upswing in BTC. The RSI of 4 hours is 46, which represents neutral momentum.

The larger structure indicates a consolidation of between $88,000 and $95,000. An upward break above $95,000 might lead to access to $97,500 and $100,000 psychological levels, according to Detailed Bitcoin price analysis.

SourceL BTC/USDT 4-hour chart: Tradingview However, rejection here may send BTC back toward its range lows.

Frequently Asked Questions (FAQs) It refers to the U.S. government's decision to hold seized BTC as a national asset, not sell it.

Currently, there are no plans to buy more—only to retain seized Bitcoin holdings. Currently, there are no plans to buy more—only to retain seized Bitcoin holdings.

After the major rally witnessed earlier in the new year, Bitcoin and other leading cryptocurrencies have seen a broad shift in market sentiment, and their price action has begun to move on the negative path.

While leading cryptocurrencies, including Bitcoin, are now showing major signs of weakness, recent data provided by popular crypto analyst Ali Martinez shows Bitcoin trapped between two critical levels.

Bitcoin's price outlookAccording to charts showcased by the analyst, Bitcoin has continued to consolidate within a tightening triangle formation as on-chain metrics begin to go weak.

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As such, the chart shows that the Bitcoin price is compressing between two major levels, which include $93,000 and $88,000. Notably, these levels now define the market’s short-term outlook.

While Bitcoin has been hovering around $90,082 in the past hours, its next price move is currently uncertain as it is stuck in the middle of the $88,000 and $93,000 range.

Furthermore, the chart shows a steady series of higher lows pushing upward and forming a firm resistance near $93,000. While each attempt to clear this level has so far been rejected, it appears that selling pressure has continued to heighten.

However, the rising support trendline has also continued to hold, suggesting persistent buying interest from traders on every dip.

With these unusual price movements, traders should expect that if Bitcoin manages a clean breakout above $93,000, momentum could quickly accelerate and a major price breakout could follow.

Nonetheless, traders should also note that failure to hold the rising support near $88,000 would break the bullish pattern and possibly trigger a deeper pullback to previous lows.

Bitcoin sees $249 million in ETF outflowsWhile Bitcoin’s next price move remains in suspense, its recent ETF activity has further sparked concerns among investors, with BlackRock steadily showing major sell attempts.

During its last trading session, the asset logged a massive $249 million in ETF outflow, signaling reduced interest among institutional investors.

Although traders are still optimistic about the asset, such a negative ETF flow has no positive impact on the asset’s potential price move.

Bitcoin is presently trading around the $90,000 price mark after a recent failure to break past $94,000 price barrier. Notably, the move suggests hesitation from buyers near recent highs, but not yet a confirmed breakdown of positive price momentum.  According to the popular market analyst with X username KillaXBT, Bitcoin is at a critical junction with equal potential for a bullish or bearish market outcome.

Bitcoin Eyes $94,000 Retest, But $87,000 Price Drop Remains Feasible In an X post on January 9, KillaXBT explains that the Bitcoin price structure remains quite clean despite recent volatile movements. This is because the price is still reacting clearly to well-defined technical levels, making near-term scenarios easier to outline. According to the presented analysis, $90,000 represents a pivotal price level that presently acts as near-term price support.  In addition, this level aligns with a CME futures gap, an area traders often watch for potential price reactions.

Source: @KillaXBT on X In a bearish scenario where Bitcoin loses the support at $90,000, KillaXBT explains that the next price floor sits around $87,500, which corresponds to the 2026 yearly open (YO). If that level fails, price could slide further toward $86,800, an area identified as demand, where buyers are expected to step in more aggressively. The realization of this bearish pathway would confirm that Bitcoin continues to suffer rejection from higher prices and reinforce short-term weakness.

On the other hand, if Bitcoin continues to hold above $90,000, KillaXBT states it would signal acceptance at current levels, meaning the market is comfortable trading here rather than initiating a rejection. In that case, Bitcoin could retest supply near the $94,000–$95,000 range, where sellers previously capped the rally. While there is potential for another rejection at this level, this bullish scenario would suggest consolidation rather than distribution.

Bitcoin Headed For $75,000 If Condition Fails In a separate post, KillaXBT shares further insights on Bitcoin price structure. Notably, the analyst reveals they continue to maintain a short position they opened around $93,900. However, they still expect the asset to push above recent highs at some point, indicating they are not permanently bearish. However, if Bitcoin is unable to create a lower high in the next 30 days, KillaXBT forecasts a free price fall to $75,000, suggesting a potential 16.67% decline from current market prices.

Source: @KillaXBT on X
At press time, Bitcoin exchanges hands at $90,500, reflecting a price loss of 0.76% in the past day. Meanwhile, the daily trading volume is down by 11.6% and valued at $38.95 billion. Bitcoin continues to rank as the largest cryptocurrency with a market cap of $1.8 trillion, representing 58.5% of the total market cap.

BTC trading at $90,505 on the daily chart | Source: BTCUSDT chart on Tradingview.com Featured image from Shutterstock, chart from Tradingview

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Over the past week, Bitcoin (BTC) finally broke out of a longstanding consolidation phase, moving decisively above the $90,000 mark. During this time, the leading cryptocurrency traded as high as $94,700 before a sudden rejection that has since forced prices to move within the $90,000-$92,000 range. Amid this mini-consolidation, a market analyst with the username OnChain has identified clear signs of a structural market weakness supporting the possibility of a bear market.

Bitcoin On-Chain, Technical Indicators Combine To Paint Bear Picture In a QuickTake post on CryptoQuant, OnChain explains that Bitcoin is showing early signs of structural weakness on the weekly chart, similar to what happened in 2021–2022. The analyst confirms this theory by consulting a combination of price-based technical indicators and on-chain demand metrics to determine the right market situation. These include: 4 Anchored VWAPs (2021 ATH, 2025 ATH, 3rd halving, and 4th halving), the SMA50, Realized Price – UTXO Age Bands (6-12 months), and Bitcoin Apparent Demand.

Source: CryptoQuant The application of these indicators to the Bitcoin weekly chart highlights areas of similar price structure in the present market and in 2021/2022. Notably, in Areas 1, as seen in the chart below, it is observed that Bitcoin for the first time simultaneously trades below the average price since the last all-time high (anchored VWAP), the SMA50, and also the realized price of coins held for 6–12 months. In the previous cycle, when BTC first fell below all these levels together, it marked the start of a broader weakening phase, rather than a brief correction.

In Areas 2, OnChain reports that in both cycles, Bitcoin finds support at the anchored VWAP to its last halving for the second time in each cycle. Following the price correction halt, BTC attempted a mini-rebound in 2022 but faced strong resistance at all indicators from Areas 1, before slipping into a multi-month downtrend.

According to the market analyst, the indicators highlighted in Areas 1 are presently positioned around the $98,000 – $101,000, presenting the next point of major resistance. Meanwhile, all this reported price action is occurring as Bitcoin Apparent Demand continues to crash suggest a visible lack of buying pressure. OnChain notes another concerning similarity as Apparent Demand is also nearing the negative territory, similarly to 2021-2022.

BTC Market Overview At the time of writing, Bitcoin trades at $90,500 following a minor price decline of 0.58% in the last 24 hours. Meanwhile, its monthly loss stands at 1.9%, indicating the bulls continue to struggle for market control. While there are alarming signs of growing market weakness, there are also potential positive developments. One of which is the Clarity Act, as highlighted by OnChain, the potential impact of which, following enactment, largely remains unknown. 

BTC trading at $90,542 on the daily chart | Source: BTCUSDT chart on Tradingview.com Featured image from Pixabay, chart from Tradingview

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Semilore Faleti works as a crypto-journalist at Bitconist, providing the latest updates on blockchain developments, crypto regulations, and the DeFi ecosystem. He is a strong crypto enthusiast passionate about covering the growing footprint of blockchain technology in the financial world.

Bitcoin and crypto prices are climbing after a volatile start to 2026 (with Goldman Sachs predicting a major catalyst could be about to ignite the market).

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The bitcoin price surged to almost $95,000 per bitcoin earlier this week before falling back sharply as traders panic over an unexpected $17.3 trillion geopolitical earthquake.

Now, as bitcoin and crypto traders reel from a Wall Street “shocker,” the market is embracing a new mantra that could trigger the next bitcoin price boom: “Run it hot.”

Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin price and crypto market swings

Forbes‘Very Surprised’—Bitcoin And Crypto Braced For Huge $8 Trillion Wall Street Price ‘Shocker’By Billy Bambrough

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Federal Reserve chair Jerome Powell is expected to be replaced by U.S. president Donald Trump in May—with the new Fed chair likely to be more supportive of bitcoin, crypto and lower interest rates.

AFP via Getty Images

“They’re gonna run it hot like you can’t even believe," Ben Hunt, market analyst and writer of the Epsilon Theory newsletter, posted to X last month and pointing to a Truth Social post made by U.S. president Donald Trump.

“We are going to be encouraging the good market to get better, rather than make it impossible for it to do so,” Trump posted in December. “Anybody that disagrees with me will never be the Fed chairman,” Trump added, referring to his looming decision on who will replace Federal Reserve chair Jerome Powell, expected this month.

Trump was cheering the latest U.S. GDP growth figure of 4.2%, predicting the U.S. economy could grow by, “10, 15, and even 20 GDP points in a year—and maybe even more than that.”

Meanwhile, as Trump leans on the Fed to cut interest rates at a far steeper pace than it has over the last couple of years, analysts have suggested the Fed could return to asset purchases—a form of economic stimulus like quantitative easing.

"Political pressures on the Federal Reserve could well extend beyond lowering interest rates to include asset purchases designed to influence housing affordability directly," chief economic adviser at Allianz and the former chief executive of bond giant Pimco, Mohamed El-Erian, posted to X.

This week, Trump has said he would launch a $200 billion mortgage bond-buying programme in an attempt to lower mortgage rates.

Sign up now for CryptoCodex—A free crypto newsletter that will get you ahead of the market

Forbes$2 Trillion Bitcoin Suddenly Back In Play As Surprise Market ‘Paradigm Shift’ Lifts Price Toward $100,000By Billy Bambrough

The bitcoin price fallen sharply from its October peak of $126,000 per bitcoin but remains far higher than its pre-2024 levels.

Forbes Digital Assets

“Run it f***-ing hot, bitcoin to $1 million” bitcoin trader and crypto derivatives pioneer Arthur Hayes posted to X, quoting Trump’s $200 billion mortgage bond comments. “If you ain't long you is wrong!”

Hayes, a cofounder of the BitMex crypto exchange who now runs the Maelstrom family office, has said he expects the bitcoin price to hit $200,000 in early 2026.

“As the amount of dollars expands, the price of bitcoin and certain cryptos will sky rocket,” Hayes wrote in a blog post this week, adding that he expects Trump to ramp up economic and market stimulus measures in the run up to the November midterms.

“You best believe [Trump] will not lose an election for lack of printing money," Hayes wrote.

Can ADA explode to a new ATH this year?

Cardano’s ADA has performed quite well since the start of the year, rising 9% over the past week to almost $0.40.

Some analysts think it can post far more substantial gains in the near future as long as it remains above a crucial level.

The Next Targets Among the bullish X users is the one using the moniker Crypto Patel. The analyst claimed the asset’s current structure shows a “multi-year symmetrical triangle compression” and a strong demand zone between $0.28 and $0.38.

They assumed that if ADA continues to hold above $0.30, its “macro bullish bias” remains valid. The analyst outlined the $1-$1.20 as the key breakout range, setting the next targets at $2.60, $5, and even $10. It is important to note that a weekly close under $0.28 would invalidate the setup.

Crypto X is rammed with additional market observers who believe ADA is on the verge of a price explosion. Darren predicted the price might skyrocket to $10.50, whereas Hailey LUNC expects it to rise to as high as $14. X user Hardy is also bullish. On New Year’s Eve (when ADA was trading at around $0.35), they posted:

Anything in this zone is a buy for me.$ADA is a good long term bet, bookmark this post. pic.twitter.com/mjOneETTG3

— Hardy (@Degen_Hardy) December 31, 2025

ADA’s recent exchange netflows reinforce the bullish scenario. Over the past several days, outflows have surpassed inflows, suggesting that investors have abandoned centralized platforms in favor of self-custody methods. This usually results in decreased selling pressure.

You may also like: Crypto Trading Activity Hits Yearly Lows as Holiday Lull Freezes Markets Bitcoin (BTC) Stops at $90K After the FOMC Meeting, Cardano (ADA) Plunges by 10%: Market Watch Whales Are Leaning Into Ethereum (ETH) and Cardano (ADA): Retail Is Lagging Behind ADA Exchange Netflow, Source: CoinGlass How About a Correction? Despite the price resurgence observed in the last days, some industry participants remain skeptical of the asset.

X user Man of Bitcoin recently argued that ADA is in a pullback phase, adding that a break below $0.383 could send the valuation toward a certain descending trendline. Subsequently, he identified $0.347 as a key support level.

Towards the end of last year, Ali Martinez also outlined a gloomy prediction. He claimed that the MACD on the monthly chart has crossed bearish, which in previous cases has been followed by a double-digit price collapse.

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Posted: January 10, 2026

Zcash [ZEC] has fallen dramatically on the price charts in recent days, following the governance clash that saw the Electric Coin Company (ECC) quit. This team was one of the key developers behind Zcash.

The sell-off reflected immediate market panic. Even though according to EEC CEO Josh Steward, the Zcash protocol remained unaffected.

AMBCrypto had previously reported that the privacy sector was a top-performing narrative in Q4 2025 – A trend that could continue in 2026. The aforementioned short-term volatility might not trigger the reset of the gains made since September.

Assessing the long-term Zcash swing structure

Source: ZEC/USDT on TradingView

While the 1-day chart revealed a bearish internal structure for the privacy token, the swing structure was bullish. The swing move from $187 to $750 was used to plot a set of Fibonacci retracement levels.

The low of this swing move needs to be breached to indicate a long-term trend change. As things stand, investors can still consider ZEC to be within a retracement phase.

The $371 and $307-levels would be the next support zones to watch. The A/D and CMF indicators showed that selling pressure has been high in recent days. The RSI also slipped below neutral 50 to indicate a bearish momentum shift.

Hence, a price drop appeared likely in the coming days and weeks.

For long-term Zcash investors, a retest of $300 could offer a buying opportunity. However, they will need to have clear invalidations for their bullish ideas.

Arguing Zcash’s short-term bullish case Prices may rebound from the $370-$400 demand zone, as they did in mid-December. Bitcoin [BTC] bulls have been fighting for control of the $90k round-number level. A victory could spur short-term gains, and this could help ZEC climb back above $400.

As things stand, ZEC is unlikely to see short-term bullishness.

Traders’ call to action – Sell

Source: ZEC/USDT on TradingView

Earlier, the 1-day chart had revealed that the $450-area had been revisited on Friday as a supply zone. The 1-hour chart gave this move more clarity. It was a relief rally and a retest of a resistance zone before a sustained downtrend.

At the time of writing, the local low at $381 was being challenged and was likely to be overcome. The $371-level, previously highlighted as a prominent support over the past month, will be a pivotal level. A drop below this level would mean traders should look to sell ZEC, targeting $345 and $307-$288 next.

Final Thoughts A price drop below $370, fueled by the recent turmoil and ZEC sentiment shift, may be likely. Long-term investors can look to buy at $300, the 78.6% Fibonacci retracement level, but must have clear strategies to exit in case of further losses. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories. His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity. Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution. As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

Before his retirement, Warren Buffett made some interesting moves within Berkshire Hathaway's portfolio.

For nearly 60 years, Warren Buffett helped turn Berkshire Hathaway (BRK.A 0.30%) (BRK.B +0.00%) into one of the most importsant financial institutions in modern history. With long-run compound annual gains of 20% -- virtually double that of the S&P 500 -- I think it's fair to say that Buffett's investing prowess is nearly unrivaled.

Regardless, Buffett's final moves before his retirement may have actually been a veiled warning to investors. Let's dig into some of the bigger decisions made by Berkshire during the past year or so and assess whether investors should follow suit.

Image source: The Motley Fool.

1. Berkshire sold its S&P 500 ETFs Despite his illustrious track record, Buffett himself has admitted that picking stocks is a daunting task. Not only do you need to be correct in your fundamental analysis, but you also need to keep a close eye on the company's performance over time. This can be a major contributor in deciding when to sell your stocks and take gains.

Against this backdrop, Buffett has long been a supporter of owning passive S&P 500 index funds. Two particular exchange-traded funds (ETFs) Berkshire long held were the Vanguard S&P 500 ETF (VOO +0.67%) and the SPDR S&P 500 ETF (SPY +0.66%).

However, Berkshire's 13F filings reveal that the firm exited its stakes in these funds during the fourth quarter of 2024.

2. Berkshire's been selling stock like there's no tomorrow Buffett didn't build his fortune by trading stocks. Rather, many of Berkshire's largest and most successful positions have been staples in the portfolio for many years -- if not decades.

Nevertheless, since the end of 2022, Berkshire has been steadily trimming its portfolio. Some of the more notable moves include exiting Citigroup, as well as consistent selling across core positions such as Apple and Bank of America.

In roughly two years' time, Berkshire has been a net seller of stocks to the tune of $184 billion.

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3. A $382 billion position that couldn't be any louder Given Berkshire's transition to a net seller, it's not a surprise that the company's cash stockpile is on the rise. At the end of the third quarter, Berkshire held a record $382 billion in cash and equivalents on its balance sheet.

BRK.B Cash and Short Term Investments (Quarterly) data by YCharts.

For a couple of years now, Berkshire has chosen not to follow the crowd into the bull market -- instead relying on steady interest earned on Treasury Bills.

Perhaps the only headline-worthy news out of Berkshire in recent months was the company's decision to initiate positions in UnitedHealth Group and Alphabet -- which barely comprise a combined 2% of the total portfolio.

What should investors make of all of this? Taken together, here's what I gather from Buffett's final decisions: He might think the S&P 500's current level is unsustainable; therefore, hoarding cash until a reasonable time to buy presents itself is the prudent move.

Remember, Buffett is both a contrarian and a value investor. He certainly isn't going to mindlessly follow the crowd into an overheated market propped up by artificial intelligence (AI) euphoria. Furthermore, chasing stocks at a premium has never been a pillar of Berkshire's investment philosophy.

While stocks have gotten off to a hot start this year, smart investors understand that as expectations rise, so too do the possibilities of a correction. Clearly, even Berkshire still bought stocks in this bull market -- the nuance was that its allocations were modest and done so in reasonably valued businesses compared to their peers.

Given these dynamics, a good strategy right now could be to take a page out of Buffett's playbook and begin accumulating cash while also keeping an open mind about owning a basket of established, quality businesses trading at a reasonable price.

Citigroup is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Adam Spatacco has positions in Alphabet and Apple. The Motley Fool has positions in and recommends Alphabet, Apple, Berkshire Hathaway, and Vanguard S&P 500 ETF. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of CRDO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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SummaryI was a skeptic on BigBear.ai Holdings, Inc. Now it's 5% of my portfolio.Since my last coverage, two key developments have changed my opinion about this stock.I believe a proposed 50% U.S. defense budget hike ($1T to $1.5T) in 2027 makes defense (not just AI) the 2026 theme, and BBAI can benefit from both.Upside drivers include scaling VANE ($1.3M) and J-35 ($13.2M/3.5 years), plus winning new SeaPort NxG task orders.The $250M Ask Sage deal ($250M, $140M cash) is accretive to the top line of the company. Despite execution risks, I feel positive about a turnaround in sentiment.Bridgendboy/iStock via Getty Images

I was a big skeptic on BigBear.ai Holdings, Inc. (BBAI). The revenue guidance cut last year was very disappointing, especially given the fact that some shareholders were seeing this company as a cheaper alternative to

Analyst’s Disclosure:I/we have a beneficial long position in the shares of BBAI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of ADC, VICI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Looking for smart investment opportunities is what every investor should be doing. These are often stocks that are participating in a massive trend, yet may not be fully appreciated for their participation.

In the AI realm, I think Taiwan Semiconductor Manufacturing (TSM +1.77%) falls into that category. TSMC is the largest chip foundry by revenue in the world by a large margin, and without its capabilities, the AI buildout wouldn't look the same.

However, TSMC doesn't receive the same premium valuation as its peers, despite its superior growth. I think this makes the company one of the smartest stocks investors can buy today, as it's primed to soar throughout 2026.

Image source: Getty Images.

TSMC is a key part of the supply chain Regardless of what artificial intelligence computing unit provider you're thinking of, it doesn't produce its own chips. Instead, they are all fabless design companies, meaning they design the chip but then outsource the assembly and production work to other companies. Nvidia, AMD, and Broadcom all do this, and their top chip foundry is easily TSMC.

This makes TSMC a neutral party in the AI buildout, as the company will make more money from this trend regardless of which supplier's computing unit is deployed. TSMC will never provide the highest growth in a group of stocks that includes itself and fabless chip designers, but it also won't have the slowest growth. This makes it a catch-all investment, which normally doesn't command the highest premium on the stock because it isn't doing as well as some others. However, TSMC is far cheaper than its peers.

TSM PE Ratio (Forward) data by YCharts. PE = price-to-earnings.

At 25 times forward earnings, TSMC is a great value in the market, especially for the growth it's expected to deliver. For 2026, Wall Street analysts expect the company's growth to be about 31% in New Taiwan dollars. The growth rate for U.S. currency could be higher or lower depending on exchange rates, but either way, Taiwan Semiconductor Manufacturing is expected to deliver strong growth in 2026.

As long as increased AI spending occurs, the company's stock will continue rising. Fortunately for TSMC, its major clients all believe there is massive growth ahead.

TSMC is ahead on the adoption curve The data centers being constructed aren't happening overnight. When a data center is announced, there are years of planning and construction that occur, and then computing units must be procured from the preferred hardware vendor. Before that, those computing units must be assembled using chips from TSMC. So, the chip manufacturer's business is actually ahead of where the major computing players are.

If you see TSMC's revenue growth slowing significantly, it could be a sign that the AI computing unit businesses will struggle in the near future. However, that hasn't happened yet, and may not happen for some time.

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AMD believes that the global data center compute market will reach $1 trillion by 2030. Nvidia offered a similar projection, with global data center capital expenditures expected to rise to $3 trillion to $4 trillion by 2030. Nvidia's figure includes all costs associated with data center construction, while AMD concentrates on just the compute market. Either way, there is most likely growth expected over the next few years from these computing providers.

Because they all source their chips primarily from TSMC, it's a great sign that the company is in a position to benefit from all this increased data center spending. I'm confident that TSMC will continue to be a top-tier stock pick, and I think it's one of the smartest stocks to buy right now.

Keithen Drury has positions in Broadcom, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Advanced Micro Devices, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Genflow Biosciences Ltd (LSE:GENF, OTCQB:GENFF) this week outlined a series of near- and medium-term catalysts as the company enters what management described as a pivotal year for delivery.

Speaking to Proactive, chief executive Dr Eric Leire said 2026 is expected to be “a year of catalysts,” with the dog aging trial representing the most immediate milestone. Leire noted that the study is approaching unblinding, with early efficacy readouts expected once the blind is closed. While safety has already been confirmed, efficacy remains unknown due to the blinded, comparative design.

Leire said the first data will focus on biological age, assessed through a methylation clock, while more detailed analysis of muscle biopsies and mitochondrial function will follow. He added that a positive outcome could be strategically important, as it may trigger a licensing deal with an animal health partner, bringing non-dilutive capital into the business.

Beyond the dog program, Leire highlighted progress in the company’s MASH pipeline, where Genflow Biosciences Ltd has repositioned its focus toward advanced fibrosis and prevention of hepatocellular carcinoma.

Here, we tak a closer look at what was said during the interview.

Proactive: Eric, happy new year. Looking back at 2025, the dog aging trial was probably your most visible program. What would investors see as a meaningful success when the first data lands in the first quarter of 2026?

Dr Eric Leire: Yes, 2026 should be a year of catalyst. The closest one is the dog study. We expect to close the blind shortly and have the first early readout of efficacy. We know the safety has been good, but it is a comparative and blinded trial, so we have no idea of the efficacy so far.

We will first read out the easy endpoint, which is the crucial endpoint of biological age, determined by the methylation clock. The analysis of muscle biopsies and mitochondrial function will take more time, but we expect some very positive results.

So far, everything has gone well. This trial could be very important for shareholders because it could trigger a deal with an animal health company, bringing non-dilutive money into the company.

Proactive: Looking at other programs, you repositioned your MASH work toward advanced fibrosis. What convinced you the data supports that shift?

Leire: In 2025, we saw a major change in the MASH landscape. There were no therapies before, and then two therapies arrived. Unfortunately, those products address early-stage MASH, where the disease is mostly silent.

There remains a huge unmet need for advanced fibrosis, prevention of cirrhosis, and prevention of hepatocellular carcinoma. The only competitor remains liver transplant, which is extremely limited. There are about 100,000 people waiting in the US, and around 10,000 die each year without a transplant.

We think we have a good shot there. Preclinical data has been very positive on fibrosis. This year, we focused on advancing prevention of hepatocellular carcinoma, which is a major threat. We demonstrated this both in vitro and in vivo, and this is a key part of our IND package.

That differentiates us from products currently on the market and could allow combination use rather than direct competition.

Proactive: What type of licensing or collaboration would you consider validation of Genflow Biosciences Ltd’s platform?

Leire: We try to license out some products at an early stage. We are a small company with a large pipeline, and it is difficult to finance everything. We keep the programs where we add value.

The dog study is a perfect example of early-stage licensing. We want to license it to an animal health company, as we are not an animal health company.

For MASH, early-stage deals are possible because of the huge unmet need. We may consider global or regional deals, including interest from Chinese companies. We are meeting potential partners during JPMorgan week.

For glaucoma, we want a proof of concept and then license out to a company focused on ophthalmology. This allows us to focus on age-related diseases like sarcopenia.

Proactive: You’re in the US for JPMorgan week, so we hope to speak again afterwards.

Leire: Yes, it will be a busy week. We are fully booked with meetings. I want to thank shareholders for their patience. We work in a regulated industry and cannot skip steps. Now it is time to harvest our results and potentially bring non-dilutive cash into the company.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in SSRM over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) CEO Paul McGlone talked with Proactive about the company’s latest announcement regarding an accelerated lump sum payment linked to automotive royalties, its improving financial position, and key technology demonstrations at CES.

McGlone explained that the payment follows a material change to an automotive production program, enabling Seeing Machines to trigger contractual guarantees tied to minimum volumes or absolute payments. As a result, the company has negotiated the full value of expected royalties, discounted over five years, to be received as a lump sum and recognised this month. He described the outcome as “a very good deal for us,” noting that the revenue will flow directly through to profit and cash.

Importantly, McGlone emphasised that the payment is incremental to Seeing Machines’ existing trajectory. He confirmed that the company achieved a cash-flow breakeven run rate by the end of December, stating that “the December month was a cash flow positive and profitable month, the first for us.” He added that Seeing Machines is highly confident of profitability in the third and fourth quarters, meaning the entire second half is expected to be profitable, even without factoring in the accelerated royalty payment.

The discussion also covered Seeing Machines’ presence at CES, where the company is demonstrating advanced 3D interior perception mapping technology with partners including Valeo. McGlone highlighted growing opportunities across software-defined vehicles, robotics and autonomous vehicle applications, as well as progress in intoxication detection technology and future mobility initiatives.

Proactive: Paul, very good to speak with you and happy New Year. You’ve certainly hit 2026 with the ground running. Let’s start with the announcement you made yesterday. You’ve notified the markets that you’re to receive an accelerated lump sum payment related to automotive royalties. There are a few questions around that. You mentioned there was a change to an automotive production program. Can you explain that in more detail?

Paul McGlone: We’ve mentioned a number of times to the market that we have a number of programs and contracts that are underwritten by guarantees, either minimum volume guarantees or absolute payment guarantees. We have four of those in total, and this program represents one of them.

What’s occurred in this case is that, for reasons outside our control, the program at the customer end has been materially changed in timing and volume. Those changes enabled us to trigger the guaranteed commitment and renegotiate the outcome. The outcome we’ve negotiated is fabulous for the company.

We’ve agreed the entirety of the amount, discounted for the time value of money over five years, resulting in a lump sum payment that will be booked this month. That payment will fall into this quarter and the second half as revenue, and it drops straight to profit and cash.

Normally, when programs are delayed, you have to wait until the end of the program to discuss settlement. In this case, because of the contractual guarantees, we’ve been able to negotiate a very good outcome. All other programs with this customer are either in production or approaching production and are entirely on track.

Proactive: You mentioned profits and cash flow. What is the impact of this payment on profitability and cash flow?

Paul McGlone: It’s profoundly positive. But stepping back to the statements we’ve been making for the last couple of quarters, we committed to achieving a cash-flow breakeven run rate by the end of December, and I can confirm that has been achieved. December was a cash-flow positive and profitable month, the first for us.

We are also highly confident that we will achieve profitability in our third and fourth quarters, and therefore the whole of the second half. We are now on the path to profit, and that’s without considering the impact of this accelerated royalty payment.

This payment improves revenue, profit and cash. It isn’t the trigger that enables profitability; it’s a material addition to our existing commitments.

Proactive: While we have you, your team is at CES. What’s the focus of the demonstrations this year?

Paul McGlone: CES was really busy for us. The market is changing rapidly with the explosion of software in vehicles, robotics and autonomous vehicles. We’re becoming more focused on that area and are running deep proof-of-concept demonstrations with key customers.

With Valeo in particular, we’re demonstrating an advanced 3D interior perception map that brings the cabin experience to life. We see it as a technological breakthrough that’s ahead of the market.

We’ve also released a video demonstrating intoxication detection, showing both the algorithms and the real-world use case of what happens if a vehicle detects intoxication.

In addition, we’ve announced a focus on future mobility. We’ve brought together teams working with autonomous vehicle players, initially selling backup driver monitoring technology. Now, we’re in dialogue with several key players around a more advanced fusion of interior and exterior sensing, with our technology at the core. These are existing resources and products repurposed to capitalise on a new opportunity, and discussions are progressing positively.

Proactive: It sounds like an exciting and profitable year ahead. Thanks for your time.

HomeDividends AnalysisREITs Analysis

SummaryAll 123 publicly traded US equity real estate investment trusts analyzed by S&P Global Market Intelligence traded below their respective consensus price target estimates.The specialty sector, which includes advertising, casinos, communications, data centers, energy infrastructure, farmland and timber, had the largest median implied upside to its consensus price target estimate, at 22.6%.REITs in the self-storage segment showed a 20.6% median implied upside to their consensus price target estimates, while the office sector followed closely at 18.7% and the residential sector at 15.4%.The Dow Jones Equity All REIT index recorded a one-year total return of 3.7% as of Jan. 5, which was much lower than the S&P 500's return of 17.0% over the same period. Funtap/iStock via Getty Images

All 123 publicly traded US equity real estate investment trusts analyzed by S&P Global Market Intelligence traded below their respective consensus price target estimates.

The REITs had a median implied upside of 15.0% to their consensus